In 2017 about 51% of personal income in the United States came from
A. transfer payments.
B. profits.
C. property income.
D. wages and salaries.
Answer: D
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Macroeconomics involves the study of the decision-making of individual firms or individuals
Indicate whether the statement is true or false
Suppose that you lend $5,000 to a friend who pays you back $5,400 the next year. Suppose that prices that year rose by six percent and the real rate of return in the stock market was five percent
Your friend says that he or she was being more than fair by giving you more than the rate of inflation as a return. What do you think?
With the exception of the U.S., the majority of the world's trading partners utilized the gold standard
Indicate whether the statement is true or false
According to economists, competitive firms
A) compete for the same customers. B) are price takers. C) differentiate their products. D) are able to change output and affect the market price.